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Mar 31, 2023
Alta Q1 2023 Earnings Report
Alta reported strong financial results for the first quarter of 2023 and increased adjusted EBITDA guidance for 2023.
Key Takeaways
Alta Equipment Group reported a 26.8% year-over-year increase in total revenues, reaching $420.7 million. New and Used Equipment sales grew by 44.9% to $219.6 million, and Adjusted EBITDA grew 36.0% to $40.8 million. The company increased its full-year 2023 Adjusted EBITDA guidance to $180 million to $188 million.
Total revenues increased 26.8% year over year to $420.7 million.
Construction and Material Handling revenue reached $233.1 million and $164.8 million, respectively.
New and Used Equipment sales grew 44.9% to $219.6 million.
Adjusted EBITDA grew 36.0% to $40.8 million.
Alta
Alta
Forward Guidance
The Company increased full year 2023 Adjusted EBITDA guidance to $180 million to $188 million from the previously announced $177 million to $185 million.